Former House Speaker Nancy Pelosi (D-California) and her husband have benefitted from another incredibly lucky stock market decision just before a monumental government lawsuit.
Pelosi has been suspected by many of allegedly using insider knowledge from her powerful government position in order to make beneficial stock market trades.
‘It is important to determine who engaged in the transaction on her behalf.’
On Tuesday, the Department of Justice filed a anti-trust lawsuit against Visa, accusing the credit card giant of using its massive financial advantage to monopolize the credit market.
Visa’s stock dropped by 5.5% based on the lawsuit, but the Pelosis very fortuitously had sold more than half a million dollars worth of the stock weeks prior to the legal action.
An account run by entrepreneur Christopher Josephs tracks and reports stock trades from the Pelosis and noted the sale of the stock on July 3.
A comment from a spokesperson for Nancy Pelosi didn’t appear to directly address the accusation.
“Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions,” the statement to the New York Post read.
A former securities attorney told the Post that the trades didn’t necessarily point to insider trading.
“Before public opinion judges Pelosi unfairly, it is important to determine who engaged in the transaction on her behalf as well as whether it was part of a broader change of her portfolio,” said Ron Geffner.
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